Vennlight Capital Management LP Takes $1.37 Million Position in Cipher Mining Inc. (NASDAQ:CIFR)

Vennlight Capital Management LP purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 295,200 shares of the company’s stock, valued at approximately $1,370,000. Cipher Mining comprises about 1.3% of Vennlight Capital Management LP’s holdings, making the stock its 14th biggest holding. Vennlight Capital Management LP owned 0.08% of Cipher Mining at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after buying an additional 5,432 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Cipher Mining in the 4th quarter worth approximately $29,000. KBC Group NV purchased a new stake in Cipher Mining during the fourth quarter worth about $46,000. Apollon Wealth Management LLC acquired a new stake in Cipher Mining in the 4th quarter valued at about $49,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of Cipher Mining during the fourth quarter worth $49,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Price Performance

Shares of CIFR stock opened at $3.86 on Monday. The stock’s fifty day moving average is $2.78 and its 200-day moving average is $4.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99. The stock has a market capitalization of $1.43 billion, a PE ratio of -29.69 and a beta of 2.61.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $48.96 million during the quarter, compared to the consensus estimate of $53.57 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. Equities research analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CIFR shares. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price objective on shares of Cipher Mining in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a “buy” rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $8.00 target price on shares of Cipher Mining in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. Finally, Needham & Company LLC cut their price target on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.03.

Cipher Mining Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.